The bar of 100 million dollars is the dream of luxury real estate in New York, especially since this peak is now within reach. Within the gigantic tour One57, an apartment has just sold for 100.5 million dollars (86.7 million euros). It must be said that this is a duplex occupying the entire 89th and 90th floors of the One 57 tower, i.e. a little over 1000 m2 and that the building designed by the French architect Christian de Portzamparc culminates at almost 300 meters, almost the height of the tour Eiffel. The buyer, whose name has not been revealed, still paid more than 86,000 euros per square meter to afford this whim of the ultra-rich. The building has around 100 luxury accommodations located above the 25th floor of a Park Hyatt hotel.
And the waltz of records could well not stop there, because the Big Apple is teeming with luxury real estate projects in full development. Already, the American promoter Zeckendorf announces the marketing of a triplex which will be offered at 130 million dollars. This other eagle’s nest will be installed at the top of the 520 Park Avenuea tower whose marketing will start in early 2015.
And at 432 of this same opulent avenue, another tower is nearing completion. This skyscraper dedicated to the wealthiest will culminate at 420 meters, which should make it the residential building of the northern hemisphere. It is close to the heights reached by the Empire State Building (443 m), largely exceeded only by the One World Trade Center (546 m). Again, 126 residences are offered with “first prizes” starting at 17 million dollars (13.3 million euros) and which can climb up to 95 million dollars. For this price, the buyer will have 6 bedrooms and two living rooms, and above all some breathtaking views. Without forgetting the 220 Central park, which won its building permit last July, more “modest” with its 66 floors.
Behind this enthusiasm, some are concerned about the ability of developers to sell these homes at prices never reached, while the supply continues to increase. Until now, the New York real estate record was held by Ekaterina Rybolovleva, daughter of a Russian oligarch who paid $88 million for her apartment.
Now, as prices rise but supply expands, buyers may begin to be choosy and sales times may suffer. Bloomberg Businessweek noted at the end of last year that orders for new apartments worth more than $10 million had fallen by 18% in one while the stock of available properties fell from 74 to 129 according to the Corcoran real estate network. If the jewels of each building will inevitably find takers, other accommodation is more difficult to sell there, knowing that prices rarely drop below 50,000 euros per square meter. Thus, on the One 57 tower, the marketing of which started in 2011 and has still not been completed, the promoter acknowledges that it is difficult for him to sell the dwellings whose view is obstructed by the crane allowing the completion of the work.
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